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If the price ofa resource required to produce a good increases, the supply curve will shift to the right, indicating that producers are inclined to produce more of the good at each price point. A. True B. False

If the price ofa resource required to produce a good increases, the supply curve will shift to the right, indicating that producers are inclined to produce more of the good at each price point. A. True B. False

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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If the price of a resource required to produce a good increases, the supply curve will shift to the right, indicating that producers are inclined to produce more of the good at each price point. A. True B. False
Transcribed Image Text:If the price of a resource required to produce a good increases, the supply curve will shift to the right, indicating that producers are inclined to produce more of the good at each price point. A. True B. False
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